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M&M’s subsidiary chalks out aggressive expansion plan

25 Jan 2013 Evaluate

Mahindra First Choice Services (MFCS), fully-owned subsidiary of Mahindra & Mahindra (M&M), has drawn down an aggressive expansion plan to develop its service network across the country. The company, in total, plans to open 500 outlets to service cars of different brands. Of this, the company is mulling to earmark an investment of Rs 250 crore to open 50 multi-brand car service outlets of its own over the next five years. Also, the company plans to open another 450 outlets through a franchisee network, where in, each franchisee would be investing Rs 1 crore per outlet.

Mahindra First Choice Services has so far invested close to Rs 60 crore for establishing 16 service outlets in the cities of Mumbai, Pune, Nashik, Chennai, Hyderabad and Bangalore. Going forward this year, the company plans to open multi-brand service outlets in Coimbatore, Kochi, Faridabad, Gurgaon and Noida and also expand network in Bangalore, Chennai.

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